Best Car Insurance Options In Singapore (2026)
Updated: 5 Jan 2026
Written bySingSaver Team
Team
The information on this page is for educational and informational purposes only and should not be considered financial or investment advice. While we review and compare financial products to help you find the best options, we do not provide personalised recommendations or investment advisory services. Always do your own research or consult a licensed financial professional before making any financial decisions.
Looking for the cheapest car insurance in Singapore in 2025? You’re not alone. With premiums rising and new insurers entering the market, more drivers are rethinking how much coverage they actually need — and how to get the best value without paying for extras they’ll never use.
Comprehensive car insurance, often referred to as "full coverage," provides extensive protection beyond the legally mandated third-party liability coverage in Singapore. It covers damages to your own vehicle from incidents such as accidents, theft, vandalism, and natural disasters. Unlike third-party insurance, which only covers damages to other parties, comprehensive insurance safeguards your vehicle, offering peace of mind.
Many Singaporean drivers opt for comprehensive coverage due to its extensive benefits:
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Protection against a wide range of potential damages and losses.
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Financial security in case of accidents, theft, or natural disasters.
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Coverage for repairs or replacement of your own vehicle.
>> MORE: The 3 key types of car insurance
Save more without sacrificing essential coverage
Regularly comparing insurers helps you spot new plan options and opportunities to lower your deductible without compromising protection.
Cheap full coverage auto insurance companies
Here's a table showing estimated annual costs for comprehensive car insurance from some of Singapore's leading providers:
|
Company |
Product/Plan name |
Starting premium (estimated) |
|
Singlife Motor (Standard / sample) |
S$714.87 |
|
|
MSIG MotorMax |
S$729.94 |
|
|
ECICS Private Motor |
S$843.43 |
|
|
AIG Complete |
S$878.58 |
|
|
Allianz |
Allianz Motor Protect |
S$942.45 |
|
Great Eastern |
Great Eastern Drive & Save Plus |
S$1020.86 |
The estimated annual car insurance costs provided in this article are based on a sample driver profile: a 35-year-old married male driving a 2021 Honda Vezel 1.5, with over 3 years of driving experience, a 50% No-Claim Discount (NCD), and no claims within the last 3 years. Individual premiums may vary based on your unique circumstances, including but not limited to your age, gender, marital status, vehicle type, driving history, and NCD. Please obtain personalised quotes from multiple insurers using SingSaver’s comparison tool to determine your actual car insurance costs.
Based on these estimates, the cheapest car insurance in Singapore for 2025 currently comes from Singlife (around S$715/year) and MSIG (around S$730/year), followed closely by ECICS. These insurers consistently appear at the lower end of market pricing while still offering solid, essential coverage options.
For drivers who prioritise value for money, we recommend starting your comparison with Singlife, MSIG, DirectAsia, and Budget Direct, as these providers typically offer competitive premiums, flexible excess options, and the ability to customise your plan so you only pay for what you actually need.
Ultimately, the best choice depends on your willingness to trade off price, excess, workshop flexibility, and add-ons — but if your goal is simply to keep costs low without compromising essential protection, the shortlist above is the most cost-effective place to begin.
Types of car insurance coverage in Singapore
Car insurance in Singapore is broadly divided into three main types, each offering different levels of protection and cost. Understanding these categories helps you decide how much coverage you actually need — and avoid paying for add-ons that don’t suit your driving habits.
1. Third-Party only (TPO)
This is the minimum legal requirement for all vehicles in Singapore.
TPO covers:
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Damage to someone else’s vehicle or property
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Injury or death caused to a third party
It does not cover damage to your own car.
Best for: Owners of older cars with low market value, or drivers looking for the absolute cheapest premium possible.
2. Third-Party, fire and theft (TPFT)
TPFT offers everything in TPO, plus protection if your car is:
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Damaged by fire, or
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Stolen
It still doesn’t cover repairs to your vehicle if you are at fault in an accident.
Best for: Mid-range older cars where full coverage may not be cost-effective, but some extra protection is still worthwhile.
3. Comprehensive car insurance
This is the highest level of protection and the most commonly purchased type in Singapore. Comprehensive plans typically cover:
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Third-party damage
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Damage to your own vehicle (accident, vandalism, weather, etc.)
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Fire and theft
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Medical expenses
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Add-ons like roadside assistance, personal accident cover, loss-of-use, NCD protection, and authorised workshop options
Coverage varies widely across insurers, which is why premiums differ significantly.
Best for: Most drivers, especially those with newer cars, higher car values, or anyone who wants peace of mind and better all-round protection.
How much does car insurance cost?
Car insurance premiums in Singapore typically range from S$700 to S$1,000 annually, but your exact premium will be calculated based on the following factors:
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Age & gender: Younger and less experienced drivers often face higher premiums.
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Marital status & occupation: These can sometimes influence perceived risk.
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Driving experience: More years of safe driving can lead to lower rates.
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Claims history: A clean record can lead to a higher No-Claims Discount (NCD) that can significantly reduce your premium.
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Certificate of Merit (COM) discount: This is awarded for good driving behaviour.
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Vehicle details: The make, model, age, and how you use your car (e.g., daily commute vs. occasional use) all play a role in deciding your premium.
Don't be discouraged if you receive a surprisingly high quote. This can sometimes be due to broader statistics linked to your vehicle or profile, regardless of your personal driving skills. Different insurers assess risk differently, so it's crucial to shop around for multiple quotes.
Recommended car insurance providers according to driving profile
Choosing the right car insurance isn’t just about finding the lowest price — it’s about matching the policy to your driving habits, experience level, and risk profile.
Below, we break down the best car insurance providers in Singapore based on common driver profiles, so you can quickly identify which insurer is most likely to offer you the best value, benefits, and overall fit.
Best for young drivers: DirectAsia
- Up to S$1,000 in medical expenses
- 24/7 Roadside Assistance
- Windscreen excess waived if the repairs on Windscreen or windows of the Insured Vehicle are carried out at appointed or approved windscreen repairer
- Young and/or Inexperienced Driver excess of S$3,000
- Daily transport allowance applicable only if repairs exceeds 3 days
Young drivers typically face higher premiums due to limited driving experience, so insurers that allow customisable coverage and flexible excess options tend to offer the best savings. DirectAsia is popular among new drivers because you can tailor your plan — adjust your excess, limit drivers, or remove add-ons — to bring premiums down. Budget Direct is also known for competitive pricing, especially if you’re willing to choose a higher excess and stick to essential coverage.
Unique coverage | overseas emergency medical evacuation and repatriation
Best for senior drivers: MSIG
- Comprehensive cover for own vehicle up to market value, plus third-party bodily injury (unlimited) and third-party property damage up to S$5,000,000
- Built-in personal accident (PA) benefits of S$20,000 for policyholder and S$10,000 per authorised driver/passenger, plus medical expenses up to S$1,000 per person
- 24-hour Automobile and Medical Assistance services included (towing, roadside help, accident and police report notification, etc.)
- Accident repairs must be done at MSIG authorised workshops; no “any workshop” option under MotorMax itself
- No transport allowance, new-for-old replacement, or loan protection benefits - those are only available on MotorMax Plus
- Standard excess plus an additional S$3,000 young/inexperienced driver excess (non-policyholder under 27 and/or <2 years’ license)
Senior drivers often benefit from insurers that prioritise stable pricing, strong customer service, and reliable claims support. Singlife consistently offers some of the lowest premiums in Singapore, making it attractive for experienced, low-risk older drivers. MSIG is another strong candidate, thanks to its reputation for dependable workshop networks and smoother claims handling — ideal for seniors who want hassle-free coverage at a fair price.
Low NCD Penalty | Penalty of only 10% for each claim
Best for safe drivers: Singlife
- Same core own-damage and third-party cover as Lite, but with higher PA and medical limits (up to S$100,000 PA and S$2,500 medical expenses per policyholder)
- Any workshop allowed for repairs; if you use a non-approved workshop, excess is doubled, but there is no outright restriction
- Lower NCD penalty: NCD step-down of 10% per claim (instead of 30% on Lite), which is attractive in a claims scenario
- Enhanced ancillary cover vs Lite, including higher limits for medical, personal belongings, and better windscreen coverage (up to S$600 at non-approved workshops, unlimited at approved)
- 'Young and inexperienced' driver age threshold is 24 years old - One of the lowest in the market
- Great promo rates for NSmen & civil servants
- Additional excess for young/inexperienced driver (S$2,500) still applies to all three tiers
- Daily transport allowance and certain EV extensions may require optional add-ons (e.g., Loss of Use, extra PA cover)
If you’ve built up a long history of safe driving and a high NCD, you can often get the best deals from insurers that reward risk-free habits. Singlife provides some of the most competitive rates in the market, especially for drivers with 40–50% NCD. Etiqa (Tiq) also offers attractive premiums and perks like NCD protection add-ons, making it a solid match for safe, low-claim motorists looking for value.
Best for high-risk drivers: AIG
- AIG’s Complete plan covers damage or loss to your vehicle due to collision, fire, theft, natural disasters / “Acts of God”, and even civil commotions, on top of the usual third-party liability
- Standard NCD structure with protected NCD options (via separate endorsement/plan), plus clear NCD rules including non-reporting penalties and court-determined fault thresholds
- Policy wording explicitly covers a broad list of accidental causes (collision, overturning, theft/robbery, falling objects, external explosion, fire, lightning, etc.)
- Limit coverage to drivers aged 30, 35, or 40 years old and above and pay a lower premium
- Select your expected mileage upfront and enjoy a lower premium.
- Full benefits (e.g., PA, medical, any-workshop rights) may be configured differently by distributor/variant; you must refer to the specific Complete policy schedule for limits and optional covers chosen
- NCD can be reduced or cancelled not just by claims but also by failure to comply with reporting requirements (e.g., non-reporting of accidents within stipulated time)
If you have a past record or expect a higher chance of claims, AIG can be a solid choice — their car insurance policies tend to include broader protection (own-damage, third-party, fire/theft, optional excess waivers and add-ons) which gives extra peace of mind when risk is elevated. Even if your driver profile is not “ideal” for all insurers, AIG’s flexibility and strong coverage scope often makes them more willing to underwrite for higher-risk customers, making them a go-to fallback for drivers seeking comprehensive coverage without being unduly penalised.
How to lower your car insurance premium
Finding the most affordable car insurance in Singapore starts with comparing quotes from multiple insurers. Don't settle for the first quote you receive – explore your options and see how different insurers stack up against each other. SingSaver's car insurance comparison tool makes this process easy and convenient. Simply enter your details and compare personalised quotes side-by-side, allowing you to identify the most affordable options that meet your needs.
Here are some additional tips to help you secure the cheapest car insurance quotes:
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Maintain a clean driving record: Accidents and traffic violations can quickly raise your premiums. A clean record helps you build your NCD, which can reduce premiums by up to 50%.
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Opt for a higher excess: Increasing your excess (the amount you pay out of pocket in the event of a claim) can often lead to lower premiums. However, ensure you can comfortably afford the higher excess if you need to make a claim.
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Consider lower coverage for older cars: For older vehicles, comprehensive coverage may not be the most cost-effective option. Explore third-party fire and theft or third-party-only coverage to see if they better suit your needs and budget.
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Ask for discounts: Insurers often offer discounts based on your age, driving experience, occupation, car safety features, and loyalty. Always ask to ensure you’re not missing out on savings.
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Cash in on major life changes: Life events like getting married, buying a house, or having a child can sometimes affect your car insurance premiums. Inform your insurer of any significant changes, as you might be eligible for a discount.
- Choose cars with strong safety ratings or EVs with insurer incentives: Some insurers offer discounts for vehicles with advanced safety features, telematics, or environmentally friendly technology like electric powertrains. While EV premiums can vary, choosing a model with strong safety ratings or insurer-backed incentives may help lower your annual insurance cost.
>> MORE: Why is my car insurance so high?
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Frequently asked questions about car insurance in Singapore
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Lower engine capacity (e.g., 1.0L–1.6L)
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Lower market value
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Good safety ratings
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Affordable and readily available spare parts
The No-Claims Discount (NCD) is a reward given to drivers who do not make any claims during their policy year. Each year you remain claim-free, your NCD increases, allowing you to enjoy significantly lower premiums — up to 50% for private cars in Singapore. If you make a claim, your NCD may be reduced unless you’ve added NCD Protection to your plan.
Cars that are cheaper to insure typically have:
Models such as the Honda Fit, Toyota Yaris, Hyundai Avante, and Mazda 3 often fall into this category. In general, the less expensive the car is to repair or replace, the lower your insurance premium is likely to be.
“Insurance groups” aren’t used in Singapore the way they are in some other countries. Instead, premiums depend on factors like driver profile, vehicle type, claims history, and insurer risk assessments. That said, insurers known for offering some of the lowest premiums include Singlife, MSIG, DirectAsia, Budget Direct, and sometimes NTUC Income (Drivo).
Yes. For most drivers, a comprehensive plan is worth the cost. It provides the most complete protection, covering third-party damage, fire, theft, and damage to your own car. If you drive a newer car, rely heavily on your vehicle, or want peace of mind after an accident, comprehensive coverage is usually the best choice. However, for older cars with low resale value, you might save more by switching to Third-Party Fire & Theft (TPFT) or Third-Party Only (TPO) coverage instead.
About the author
SingSaver Team
At SingSaver, we make personal finance accessible with easy to understand personal finance reads, tools and money hacks that simplify all of life’s financial decisions for you.